To help students reduce or avoid student credit, colleges in the United States are creating ISA programs. These programs work by giving students a certain amount of money for teaching per school year. Once students have obtained employment, a portion of their income is spent on ISA payments. With regard to the taxation of labour income from a person subject outside Italy, Italian tax legislation provides for a specific scheme allowing individuals to tax „fictitious remuneration” (convenzionale retribuzione). This specific tax regime applies when the following conditions are met: below, some examples of IRPEF income are exempt: the capital gains generated by the sale of qualified stakes are taxed as follows: a new tax regime called cedolare secca has been put in place from the 2011 GJ. This is a voluntary and optional tax system for the regular plan. In this case, rental income can be taxed at a fixed tax rate of 21% or 10%, provided certain conditions are met. However, ISA proponents argue that students are not „stuck” because students have no legal obligation to work in a particular sector and, since it is illegal for investors to push them into a particular career, students are no more „stuck” than those with student loans. In fact, someone with a traditional student loan has less choice than someone with an ISA, because the student must be with a loan in a career where he earns at least enough income to cover his monthly payment, while someone with an ISA can choose to never earn money and not owe the investor a penny.
  Non-residents are required to report only income of Italian origin. The income of a foreign company from a company sued in Italy through an MOU is considered an Italian source. Please note that certain types of income (interest, dividends and capital gains) may be subject to a flat tax rate, provided the conditions set by Italian tax law are met. Gross taxable income from employment includes all earnings (cash or in kind) collected by the worker in connection with his employment relationship, including: bonuses, stock options, zero-rate loans, foreign adjustments, cost of living, tax refunds, car exemption, etc. As a general rule, 100% of the compensation fees paid in cash are taxable (some exceptions to this rule are reported below) and compensation paid as ancillary benefits (. For example, housing and loans, service cars for personal and professional use) are taxed on the basis of „normal value” or are taxed as a lump sum. The normal value is defined in Article 9 of the Italian tax code, since the price generally applies to similar goods and services on the market. In particular, for stocks, bonds and other securities listed or traded off-exchange, the normal value is calculated on the basis of the previous month`s average closing price (30-31 days); for other shares, it is determined in relation to the net value of the company`s capital. Specific rules apply to the items listed below.
ISAs are not for everyone. It depends heavily on the conditions of the ISA program. The lower the share of income and conditions, the better the ISA agreement. It is important to calculate the total refund using student credits to obtain an accurate comparison.